UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 1,515,702 Shares of DexCom, Inc. $DXCM

Key Points

• UBS Asset Management increased its DexCom stake by 15.6%, purchasing 1.52 million additional shares to own 11.26 million shares, worth approximately $758.5 million. Institutional investors and hedge funds collectively own 97.75% of the company.
• Analysts remain broadly bullish, with DexCom receiving a consensus “Moderate Buy” rating and an average price target of $88.71; ratings include 21 Buys, two Strong Buys, three Holds and one Sell.
• DexCom reported quarterly adjusted earnings of $0.70 per share and revenue of $1.31 billion, exceeding estimates, while revenue grew 13.1% year over year. The stock opened at $90.82, near its 52-week high of $92.59.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) by 15.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,261,876 shares of the medical device company's stock after acquiring an additional 1,515,702 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 2.98% of DexCom worth $758,487,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its stake in shares of DexCom by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 11,006,183 shares of the medical device company's stock valued at $727,842,000 after purchasing an additional 42,411 shares during the period. Norges Bank acquired a new position in shares of DexCom during the fourth quarter worth about $483,356,000. Invesco Ltd. boosted its position in shares of DexCom by 14.8% during the fourth quarter. Invesco Ltd. now owns 5,315,367 shares of the medical device company's stock worth $352,781,000 after buying an additional 686,228 shares during the period. CIBC Private Wealth Group LLC grew its holdings in shares of DexCom by 7.6% during the fourth quarter. CIBC Private Wealth Group LLC now owns 3,128,114 shares of the medical device company's stock worth $207,613,000 after buying an additional 220,313 shares in the last quarter. Finally, AQR Capital Management LLC grew its holdings in shares of DexCom by 597.8% during the fourth quarter. AQR Capital Management LLC now owns 3,102,789 shares of the medical device company's stock worth $205,932,000 after buying an additional 2,658,158 shares in the last quarter. 97.75% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

DXCM has been the topic of several research reports. Stifel Nicolaus set a $95.00 target price on DexCom and gave the company a "buy" rating in a research note on Friday, July 31st. Wells Fargo & Company raised their price target on shares of DexCom from $85.00 to $90.00 and gave the stock an "overweight" rating in a research note on Friday, July 31st. Robert W. Baird set a $105.00 price objective on shares of DexCom in a report on Friday, July 31st. TD Cowen reissued a "buy" rating on shares of DexCom in a research report on Friday, July 31st. Finally, Raymond James Financial reissued a "strong-buy" rating and issued a $94.00 price objective on shares of DexCom in a research report on Friday, July 31st. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $88.71.

Insider Buying and Selling

In related news, EVP Sadie Stern sold 2,565 shares of the stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $88.37, for a total value of $226,669.05. Following the sale, the executive vice president owned 126,043 shares in the company, valued at approximately $11,138,419.91. This represents a 1.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael Jon Brown sold 1,700 shares of the firm's stock in a transaction on Monday, June 15th. The shares were sold at an average price of $75.55, for a total value of $128,435.00. Following the sale, the executive vice president directly owned 106,353 shares of the company's stock, valued at $8,034,969.15. This represents a 1.57% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 75,600 shares of company stock valued at $5,673,342. Insiders own 0.28% of the company's stock.

DexCom Stock Up 1.7%

DexCom stock opened at $90.82 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.73 and a quick ratio of 1.43. The company's 50-day moving average is $79.21 and its 200-day moving average is $71.60. The firm has a market capitalization of $34.27 billion, a PE ratio of 35.90, a P/E/G ratio of 1.53 and a beta of 1.41. DexCom, Inc. has a fifty-two week low of $54.11 and a fifty-two week high of $92.59.

DexCom (NASDAQ:DXCM - Get Free Report) last issued its earnings results on Thursday, July 30th. The medical device company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.09. DexCom had a net margin of 20.12% and a return on equity of 35.94%. The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same period last year, the business posted $0.48 EPS. DexCom's revenue was up 13.1% on a year-over-year basis. Sell-side analysts anticipate that DexCom, Inc. will post 2.64 earnings per share for the current year.

DexCom Company Profile

DexCom, Inc is a medical device company that develops, manufactures and distributes continuous glucose monitoring (CGM) systems for people with diabetes. Its products are designed to provide near real-time glucose readings, trend information and alerts to help patients and clinicians manage insulin dosing and reduce hypoglycemia and hyperglycemia. The company's offerings combine wearable glucose sensors, wireless transmitters and software applications that deliver data to smartphones, dedicated receivers and cloud-based platforms for remote monitoring.

Founded in 1999 and headquartered in San Diego, California, DexCom has focused its business on advancing CGM technology and expanding clinical use beyond traditional insulin-dependent populations.

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